A partnership between Cambodia Microfinance Association (CMA) and Water.org aims to increase access to safe water and sanitation nationwide by offering incentives to finance the sector.
The two-year collaboration will promote access to financing for safe water and sanitation services to SMEs and households. This will be achieved by strengthening the capacity of CMA members to develop and offer water and sanitation credit products to clients, promote financial inclusion and improve the water sanitation and hygiene (WASH) sector.
The initiative aims to tackle the critical issue of access to safe water and sanitation, especially in rural areas. The collaboration will focus on capacity building to potential CMA members to implement Water Credit Adaptation. Participating financial institutions will also receive technical assistance to develop and improve financial products on safe water and sanitation.
“We are excited to collaborate with Water.org to improve financial access to safe water and sanitation services to SMEs and households in Cambodia," said Sok Voeun, CMA Chairman.
"Through this collaboration, we hope to strengthen the capacity of our members to develop sanitation services for their clients, which will significantly impact access to safe water and sanitation in our communities and promote financial inclusion.”
It is also hoped that the Water Credit Adaptation will help microfinance institutions improve client retention and loan quality. In return, this ensures business continuity to continue providing responsible financial services.
According to a press release announcing the partnership, the collaboration will promote financial inclusion and help families improve their quality of life and health.
Griselda Santos, Southeast Asia Regional Director of Water.org, said, “We aim to make safe water and sanitation more accessible to people in Cambodia, especially those living in rural areas. By providing financing solutions to address challenges on access to safe water and sanitation, we can improve the quality of life and health of families in Cambodia.”
The Cambodian government has set a target of 100 percent rural access to clean water and sanitation by 2025.
(marissa.carruthers@kiripost.com)
